Email aniekan.ukpanah@uubo.org

Phone +234 14622307-12; 2774921-2

AddressSt Nicholas House, (10th, 12th & 13th Floors), Catholic Mission Street, Lagos, Nigeria.

Aniekan Ukpanah

Managing Partner

Profile


Aniekan Ukpanah is the firm’s Managing Partner and heads Udo Udoma & Belo-Osagie’s banking & finance, project finance, infrastructure and PPP, real estate, and intellectual property teams. He advises on the structuring and financing of large-scale construction, infrastructure and energy projects, the capital and money markets, and syndicated loans.

He co-led the team that advised an international financial institution on a US$50,000,000.00 facility to one of the top five Nigerian banks, and advises investors in the gas sector, including one of the largest extractors of natural gas in the world, in relation to various Nigerian oil & gas projects. In addition to legal services, he provides client training and presents papers on security for bank lending, secured credit transactions and legal issues associated with PPPs.

Aniekan is ranked as an Eminent Practitioner for his Banking & Finance work, and as a Leading Lawyer in the Corporate/M&A sections of Chambers Global Directory, the International Financial Law Review (Expert Guides) and the Legal 500, and is commended in Who’s Who Legal.

Slightly outside of his banking and finance focus, Mr. Ukpanah acted as team leader in a World Bank/USAID-funded project to devise a ‘road map’ to guide foreign investors who wish to invest in Nigeria. He is a member of the governing council of Obong University, the first licensed private university in Akwa Ibom State. He also chairs and serves on the boards of various private limited liability companies.

Career

2019-till date
Managing Partner, Udo Udoma & Belo-Osagie
2015
Member, Akwa Ibom State Technical Committee on Ibom Deep Seaport
2005
Member, Central Bank of Nigeria Technical Committee on Bank Consolidation
2003
Member, Federal Government Study Group advising the Federal Government of Nigeria on the Review of the Nigerian Tax System
2002-2006
Treasurer, Capital Markets' Solicitors Association of Nigeria
2000-2019
Partner, Udo Udoma & Belo-Osagie
1998-1999
Senior Associate, Udo Udoma & Belo-Osagie
1989-1998
Associate, Udo Udoma & Belo-Osagie

Qualifications

1988
BL, Nigerian Law School
1987
B.A., Law and Economics, Dorset Institute (University of Bournemouth) Bournemouth, United Kingdom

Professional Membership

Capital Markets' Solicitors Association of Nigeria
International Bar Association
Nigerian Bar Association (member, sub-committee on banking, finance and insolvency section on Business Law)

Bar Admissions

1988
Nigeria
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Recognition

UUBO is proud to announce that our Managing Partner, Aniekan Ukpanah, has been ranked as “Highly Regarded” in the 2017 edition of the IFLR1000 ’s jurisdiction rankings for Nigeria.
Aniekan has been recognised for his work in Banking and Project Finance.
To learn more about Aniekan’s work at UUBO, please visit uubo.org

UUBO is proud to announce that our Managing Partner, Aniekan Ukpanah, has been ranked as “Highly Regarded” in the 2018 edition of the IFLR1000 ’s jurisdiction rankings for Nigeria.
Aniekan has been recognised for his work in Banking and Project Finance.
To learn more about Aniekan’s work at UUBO, please visit uubo.org

UUBO is proud to announce that our ManagingPartner, Aniekan Ukpanah, has been ranked as “Highly Regarded” in the 2019 edition of the IFLR1000 ’s jurisdiction rankings for Nigeria.
Aniekan has been recognised for his work in Banking and Project Finance.
To learn more about Aniekan’s work at UUBO, please visit uubo.org

Aniekan Ukpanah is head of the banking and finance team and is recognised for his role on project finance mandates. He advises on the financing of infrastructure and energy developments, and regularly acts for commercial banks on finance transactions.”- Chambers Global,2019

UUBO is proud to announce that our Managing Partner, Aniekan Ukpanah, has been ranked as “Highly Regarded” in the 30th edition of the IFLR1000 ’s jurisdiction rankings for Nigeria.
Aniekan has been recognised for his work in Banking and Project Finance.
To learn more about Aniekan’s work at UUBO, please visit uubo.org

UUBO is proud to announce that our Managing Partner, Aniekan Ukpanah, has been ranked as “Highly Regarded” in the 31st edition of the IFLR1000 ’s jurisdiction rankings for Nigeria.
Aniekan has been recognised for his work in Banking and Project Finance.
To learn more about Aniekan’s work at UUBO, please visit uubo.org

Aniekan Ukpanah ranked as ”Highly Regarded” IFLR1000 ‘s latest 2020 Nigeria jurisdiction rankings.

Udo Udoma & Belo-Osagie is pleased to announce that our Banking & Finance and Real Estate teams’ partner, Aniekan Ukpanah has been ranked in Chambers and Partners Global Guide 2021 for his Banking & Finance practice.

For more information about Aniekan’s work and the areas of specialisation of our other highly regarded lawyers, please email uubo@uubo.org and visit www.uubo.org.

We are pleased to announce that our Managing Partner, Aniekan Ukpanah, has been recommended and ranked:

– for his Banking, Finance and Capital Markets practice;

– for his specialisations in syndicated and structured finance within the Energy and Natural Resources sector; and

– as a “Leading Individual” for his Real Estate and Construction practice in The Legal500 Europe, Middle East and Africa (EMEA) 2020 edition rankings research.

The rankings report is available to view here: https://lnkd.in/g5sup-K

Aniekan Ukpanah, has been recognised by the Chambers and Partners Global Guide 2021 as ‘Eminent Practitioners’..

Articles

Deals

Power, Infrastructure and Projects

Led the team that advised Accugas Limited (a wholly owned subsidiary of Seven Energy International Limited) in relation to a US$70,000,000 (seventy million United States Dollars) facility comprised of a US$60,000,000 (sixty million United States Dollars) term loan facility and a US$10,000,000 (ten million United States Dollars) working capital facility, provided by Stanbic IBTC Bank Plc and United Bank for Africa Plc, to finance the development of a Central Gas Processing Facility and the construction of the Uquo-Ikot Abassi gas pipeline. The transaction was awarded the Euromoney “Deal of the Year” 2010; 

Led the team that advised Seven Energy in connection with the financing, by a syndicate of banks, of its acquisition of East Horizon Gas Company Limited from Oando PLC; 

Led the team that advised a consortium of local banks in connection with the medium term syndicated notes issuance facility of up to US$285,000,000 (two hundred and eighty-five million United States Dollars) provided to Spark-West Industries Limited for the construction and development of a 72,000 metric ton/annum steel fabrication and galvanisation plant and a 120,000 metric ton/annum induction furnace and 360,000 metric ton/annum steel rolling mill; 

Led the team that advised the lender in relation to the financing of a 189 MW gas fired power plant which is being developed by Ibom power Limited at Ikot Abasi in Akwa Ibom State of Nigeria. He continues to provide legal advisory services to the lender in connection with the financing of on-going infrastructure projects; 

Led the team that recently advised Accugas Limited, a subsidiary of Seven Energy International Limited, in connection with a syndicated loan in the sum of $170 million; 

Led the team that advised KEPCO Energy Resources Limited in connection with its acquisition of a 70% equity interest in Egbin Power Plc, a 1,320MW power plant, the biggest in Sub-Saharan Africa. The deal was valued at $414,900,000; 

Led the team that advised New Electricity Development Company Limited (KEPCO/NEDC Consortium) in connection with its successful bid for, and acquisition of a 60% equity interest in Ikeja Electricity Distribution Plc for $105,000,000; 

Led the firm’s team that advised KEPCO Energy Resources Limited in connection with a US$309,900,000 facility that was provided by a syndicate of local banks in connection with KEPCO Energy Resources Limited’s acquisition of a 70% equity interest in Egbin Power Plc, a 1,320MW power plant, the biggest in Sub-Saharan Africa; 

Advised NG Power-HPS Limited in connection with the acquisition of majority shares in First Independent Power Limited. The transaction, with a value of US$311,200,000, involved the sale of a group of five power stations by a state government and is part of the privatisation of the Nigerian Electric Power Sector; 

Led the team that provided advice to a syndicate of lenders on a medium term syndicated notes issuance facility of up to US$285 million provided to Spark-West Steel Industries Limited in connection with the construction and development of a steel fabrication and galvanisation plant and a steel rolling mill; 

Led the team that advised African Foundries Limited in relation to a US$85 million financing package consisting of US$75 million term loan facility and US$10 million working capital loan facility, provided by a group of international financial institutions led by Citibank NA; and by a number of Development Financing Institutions, including Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V., to finance the construction a 225,000 MT steel rolling mill in Ogijo, Ogun State; 

Led the team that acted as legal adviser to a syndicate of local lenders in respect of US$205 million term financing of United Cement Company of Nigeria Limited for the construction of a greenfield cement plant in the Cross-River State of Nigeria; 

Advised Emerging Capital Partners with respect to a proposed investment in relation to a concession agreement with the state government for the construction of a coastal road and the fourth mainland bridge; 

Leads the firm’s team advising the company awarded the concession to operate the Blue Line of the proposed Lagos State Mass Transit Light Rail System; 

Led the firm’s team that advised a major international bank in connection with a possible investment in the Lekki toll road project; 

Co-led the team that acted as legal advisers to the Afrinord Hotel Investments A/S in respect of the €5 million term loan facility to Anchorage Leisure Limited for working capital requirements for the construction of the Radisson Hotel in Victoria Island; 

Led the team that acted as Nigerian counsel to Standard Chartered Bank, London in connection with a guarantee given by Dangote Industries Limited in favour of the bank in respect of a US$60 million loan facility to Ceminvest S.A; 

Advised Lenders in respect of a US$100 million financing that was provided to Wempco Steel Mill Company Limited in connection with the development and operation of its cold rolling mill in Ogun State, Nigeria; 

Advised Citibank N.A and First City Merchant Bank PLC (as Mandated Lead Arrangers) in connection with a senior debt and equity-linked loan facility to Helios Towers Nigeria; 

Advised a consortium of international arrangers and Nigerian banks in connection with a US$170 million (Naira Equivalent) Syndicated Commercial Paper Facility financing for MTN Nigeria Communications Limited and had primary responsibility for drafting all local transaction documentation; 

Co-led the team that advised a consortium of local and international banks (including Citibank) that provided US$395 million in medium term financing to MTN Nigeria Communications Limited; 

Advised Septa Energy Nigeria Limited in connection with a US$150,000,000 (one hundred and fifty million United States Dollars) Reserve-Based Senior Secured Amortising Term Facility for the development of three oil and gas fields in the Federal Republic of Nigeria; and 

Advised the African Capital Alliance Consortium in connection with its acquisition (estimated value of US$750 million) of a controlling stake in Union Bank Plc, one of Nigeria’s oldest listed banks.

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